The first two races were pushed through earlier in the day, before the race course was cleared to allow the US Navy's flight demonstration squadron - known as the Blue Angels - to practice over the Bay ahead of the weekend's annual celebration of the nation's military.
The two remaining quarter-final matches are scheduled for tomorrow afternoon, with Nathan Outteridge in Artemis Red taking on Russell Coutts and Oracle's other entry skipped by Jimmy Spithill taking on Ben Ainslie Racing.
Returning in the afternoon for the beginning of the fleet racing programme, Team New Zealand made a strong start in the opening race when they finished second behind Ben Ainslie Racing.
But they slipped to fifth overall in the standings after finishing a disappointing eighth in the second race.
Ainslie's team top the standings on 21 points after recording a third in the second race, while Spithill (8, 1) is second and Outteridge third (4, 4).